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September 24, 2026
Show AI Summary
Merchant discount rate on UPI merchant payments may be treated as a taxable payment settlement service with input credit availability.
GST treatment of MDR charged on UPI merchant payments above Rs 2,000 is to be considered by the GST Council. The MDR framework imposes a merchant-borne charge for payment processing and settlement. As these activities are services, MDR may attract GST at 18 per cent, subject to the Council's view. Merchants paying GST on MDR may claim input tax credit, potentially reducing their net tax burden.
September 24, 2026
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Fiscal responsibility limits frame cautions on new projects as budgetary discipline rather than financial crisis.
Finance-department advice treats fiscal indicators as grounds for restraint in approving additional expenditure rather than as evidence that funds are unavailable. Funding new projects may be difficult until additional resources are mobilised or allocations already approved are reallocated. Project proposals lacking budgetary provision or earmarked funding may create cash-flow pressures and fiscal-management challenges, requiring deferment until resources are finalised.
September 24, 2026
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Corporate document forgery allegations trigger investigation into unauthorised insolvency consortium participation and disputed share transfers.
An FIR concerns alleged cheating, forgery, criminal conspiracy, corporate-document misuse, and unauthorised financial liabilities arising from participation in a corporate insolvency resolution process. Allegations include entering a consortium arrangement without the Parekh Group's knowledge or authorisation, reliance on a fabricated and unapproved board resolution, and unauthorised transfer of shares to a group-controlled entity. Investigation covers disputed-record authenticity, alleged digital-signature misuse, and financial transaction trails.
September 24, 2026
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Energy security shapes continued Russian crude sourcing as alternative suppliers replace shortfalls amid potential sanctions-related restrictions.
Russian crude imports are operating near 1.8 million barrels daily in September, with refinery maintenance, stronger Chinese buying, and disruptions to Russian export infrastructure constraining availability. Middle Eastern supply, especially from Iraq and Saudi Arabia, has offset reduced Russian volumes. Potential tougher restrictions on countries purchasing Russian oil could complicate procurement, but energy security and tight physical oil markets make a significant near-term reduction in Russian crude purchases unlikely. Replacement remains technically possible but may raise procurement costs and competition for medium-grade crude.
September 24, 2026
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Direct tax payment gateway integration enables nationwide payments through digital options, branch channels, and customers' respective internet-banking services.
IDFC FIRST Bank's payment-gateway integration for Central Board of Direct Taxes collections enables Direct Tax payments through UPI, credit cards, debit cards, Retail and Corporate Internet Banking, and branch-based cheque, demand draft, or cash payments. Customers of other banks may use their own internet-banking facilities through the gateway. Taxpayers create a challan on the Income Tax e-Filing Portal, select Payment Gateway and IDFC FIRST Bank, choose a payment mode, complete payment, and download or print the paid challan. Payment confirmations are also accessible.
September 24, 2026
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Insurance distribution controls target commissions, expenses and loan-linked sales, reshaping bancassurance arrangements and intermediary remuneration structures.
IRDAI's consultation proposals for insurance distribution contemplate lower Expenses of Management limits, tighter commission controls, and greater control over loan-linked insurance practices. The prospective framework concerns insurer and intermediary remuneration, distribution expenses, and bancassurance fee structures. Reported concerns centre on potential effects on insurer earnings, intermediary economics, and lending-linked distribution arrangements; the measures are not described as final operative obligations or enforcement action.
September 24, 2026
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Personal loan eligibility and repayment planning: loan variants and digital applications remain subject to assessment, verification, and applicable terms.
Eligible customers may seek collateral-free personal loans within stated amount, tenure and interest-rate ranges. Loan amount, interest rate and tenure determine the EMI and total interest payable, while calculator results are estimates rather than final repayment obligations. Eligibility includes nationality, age, employment and credit-score conditions, but approval, final pricing and loan amount remain subject to lender assessment, document verification and applicable terms. Online applications require personal, financial and employment details and KYC verification.
September 24, 2026
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Nidhi company deposits lack insurance protection, requiring verification of government declaration before relying on high-return promises.
Each company seeking to function as a Nidhi must file Form NDH-4 for declaration or updated Nidhi status and comply with the Companies Act, 2013 and applicable Nidhi Rules. Nidhi companies may accept deposits and grant loans only to members. Public investors should verify declared Nidhi status rather than rely on unusually high-return promises, agent representations, or informal assurances. Deposits with Nidhi companies are not insured by the Deposit Insurance and Credit Guarantee Corporation, and recovery may be difficult where a company fails or fraud occurs.
September 24, 2026
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FCNR(B) liquidity deployment remains within banks' discretion, guided by credit pipelines, asset-liability positions, and prudent underwriting standards.
Banks retain full discretion to deploy liquidity mobilised through FCNR(B) deposits, based on their credit pipeline, lending proposals, liquidity outlook and asset-liability position. No sector-specific direction applies to use of these funds. FCNR(B) deposits are fixed-term foreign-currency deposits in which principal and interest are repayable in the same foreign currency, protecting non-resident depositors from direct rupee exchange-rate risk. Continued prudent credit appraisal and underwriting standards are expected.
September 24, 2026
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Compulsory Muslim marriage registration shifts registration to registrars under a statewide procedural framework, with local officials authorised when needed.
Compulsory registration of Muslim marriages will operate under the Assam Muslim Marriage Registration (Compulsory) Rules, 2026, framed under the Assam Compulsory Registration of Muslim Marriage and Divorces Act, 2024. Registration will be undertaken by registrars, with panchayat-level officials potentially authorised where application volumes require additional capacity. The framework addresses the registration forum after kazis were barred from registering Muslim marriages.
September 24, 2026
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Macroeconomic resilience supports fiscal consolidation, financial-sector stability, and orderly foreign-exchange management through persistent global and market shocks.
Policy management emphasises clear communication, policy certainty, macroeconomic and financial-sector stability, efficient use of buffers, and sustained structural reform. Fiscal prudence is treated as necessary to avoid unsustainable stimulus and preserve long-term stability. External-sector resilience rests on services exports and remittances, while oil and gold shocks and weaker capital inflows have created temporary balance-of-payments pressure. Further improvement is linked to lower oil dependence, export diversification, trade agreements, capital inflows and orderly foreign-exchange market management.
September 24, 2026
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Software export growth strengthens IT ecosystem as campus expansion supports startup activity, infrastructure development, and skilled employment.
Software export revenue generated by Technopark reached Rs 17,092 crore in FY 2025-26, reflecting year-on-year growth of approximately 17.3 per cent. Growth is attributed to IT infrastructure, a skilled talent base, and company performance. Technopark also operates as an IT and ITeS hub and startup ecosystem centre, with ongoing campus development intended to expand its position among major IT hubs.
September 24, 2026
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Artificial intelligence centre of excellence partnership advances industry-aligned training, supervised internships, startup mentorship, and applied research collaboration.
IIEST Shibpur and Tata Consultancy Services have entered into a Memorandum of Understanding to establish an Artificial Intelligence Centre of Excellence at the Electrical Engineering Department's high-performance computing laboratory. The collaboration supports industry-aligned training, professional certifications, practical projects, supervised internships, startup mentorship, curriculum benchmarking, and applied research in natural language processing, computer vision, image processing, and advanced data analytics.
September 24, 2026
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Money-laundering searches prompt protests over alleged political misuse while operations continue at public development offices and residences.
Enforcement Directorate search and survey operations connected with a money-laundering investigation continued at development authority offices and premises linked with housing administration, a realty company, and private residences. AAP workers protested against the searches, alleging political and administrative pressure through central investigative agencies. The party further alleged that the operations could disrupt the development authority's functioning and impede Punjab government welfare schemes.
September 24, 2026
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Money-laundering investigation procedure raises allegations over FIR registration, conflict concerns, and the choice between police, vigilance, or federal inquiry.
A police inquiry, rather than a Vigilance inquiry, was directed following an Enforcement Directorate communication seeking registration of an FIR for cognizable offences. It was contended that FIR registration should be dealt with by the police and that governmental or ministerial intervention would raise concerns where a person facing allegations is involved in deciding the investigative course. A transfer to a federal investigative agency was sought on grounds of investigative independence and perceived conflict of interest.
September 24, 2026
Show AI Summary
Trade truce extension maintains tariff pauses and export-restriction rollbacks while negotiations continue on broader economic commitments.
United States-China trade relations may remain governed by the Busan Agreement through January 10 under a stated two-month extension, though Chinese official confirmation is pending. The arrangement maintains pauses on elevated tariffs and prior rollbacks of restrictions affecting critical minerals and high-technology exports. Negotiations may produce a broader economic package or further continuation of existing terms, while implementation of agreed commitments is under review. The parties have also proposed reciprocal alerts on AI-related hacking incidents involving national-security concerns.
September 24, 2026
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Gold Smuggling Enforcement: Concealed foreign-origin gold recovered from vehicles and a traveller, with arrests under customs law.
Gold-smuggling enforcement involved the seizure of approximately 21 kg of foreign-origin gold in two operations and the arrest of five persons under the Customs Act, 1962. Gold bars were recovered from sophisticated vehicle-chassis cavities, while gold bars and cut pieces were recovered from a passenger's specially designed cotton waist belt. The operations concerned suspected cross-border gold movement and targeted organised smuggling networks using sophisticated concealment methods.
September 24, 2026
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Cross-border gold smuggling enforcement resulted in Customs Act seizures after coordinated recovery of foreign-origin gold from border locations and a passenger.
Cross-border smuggling of foreign-origin gold through the Bangladesh route led to coordinated recoveries and seizures under the Customs Act, 1962. Gold recovered near the India-Bangladesh border was taken over for customs proceedings, including a seizure under Section 110. Foreign-origin gold concealed by a train passenger was also recovered and seized, with investigation indicating its smuggling from Bangladesh.
September 24, 2026
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BRICS tax cooperation creates standing platforms for international taxation, revenue statistics, professional capacity building and peer learning.
India-led BRICS tax cooperation established standing Working Groups on International Taxation and Transfer Pricing and Revenue Statistics, providing institutional platforms extending beyond individual Chairships. It also institutionalised an annual Young Tax Professionals Capacity Building Programme, launched the BRICS Tax Cross-Learning Lab for peer learning on client-centric administration and human-resources practices, and approved the Terms of Reference for the BRICS Tax Support Network.
September 24, 2026
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Wildlife trafficking enforcement applies protected-species safeguards to seized Tokay Geckos and enables further statutory action against suspected illegal trade.
Wildlife-trafficking enforcement led to interception of two persons and seizure of 86 live Tokay Geckos under the Wildlife (Protection) Act, 1972. Tokay Geckos receive Schedule I protection under that legislation and are listed in Appendix II of CITES, regulating international trade. The persons and recovered geckos were transferred to the Mariani Range Forest Office for further action.

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Trump's demand that US aid workers return home sparks outrage in Washington and anxiety overseas

February 6, 2025

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Washington, Feb 6 (AP) Frustration boiled over Wednesday among supporters of the United States' lead aid agency at a Washington rally, and anxious aid workers abroad scrambled to pack up households after the Trump administration abruptly pulled almost all agency staffers off the job and out of the field.

The order issued Tuesday followed 2 1/2 weeks that have seen the Trump administration and teams led by billionaire ally Elon Musk dismantle much of the US Agency for International Development, shutting down a six-decade mission intended to shore up US security by educating children, fighting epidemics and advancing other development abroad.

Secretary of State Marco Rubio, who has been touring Central America on his first visit in office, defended the administration's broad shutdown of aid funding and other actions while saying, “Our preference would have been to do this in a more orderly fashion.” But, Rubio said, the administration faced a lack of cooperation in an attempt to review the worth of each agency program. He gave no evidence, and agency staffers deny his and Musk's claims of obstruction. As a result, Rubio said, the administration would now “work from the bottom up” to determine which U.S. aid and development missions abroad were in the national interest and would be allowed to resume.

“This is not about ending foreign aid. It is about structuring it in a way that furthers the national interest of the United States,” he said in the Guatemalan capital of Guatemala City.

In Washington, Democratic lawmakers and hundreds of others rallied outside the Capitol to protest the fast-moving shutdown of an independent government agency. “This is illegal and this is a coup,” California Democratic Rep. Sara Jacobs cried.

“We are witnessing in real time the most corrupt bargain in American history,” Maryland Sen. Chris Van Hollen shouted to supporters at the rally, referring to Musk, his support for President Donald Trump and his role in challenging USAID and other targeted agencies.

“Lock him up!” members of the crowd chanted. Addressing Democratic lawmakers, who have promised court battles and other efforts but have been unable to slow the assault on USAID, they said: “Do your job!” Scott Paul, a director at the Oxfam American humanitarian nonprofit, said the damage already done meant that key parts of the global aid and development system would have to be rebuilt “from scratch.” Jennifer Kates, senior vice president and director of the global health and HIV policy program at KFF, cited one large organization alone that expects to close up to 1,226 maternal and child-care clinics serving more than 630,000 women.

“The health care system is not one that you just press on and off,” Kates said. If the US shutdown lays off staffers and closes those clinics, “you can't just say, All right, we're ready to start again. Let's go.'” USAID has been one of the agencies hardest hit as the new administration and Musk's budget-cutting team target federal programs they say are wasteful or not aligned with a conservative agenda.

U.S. embassies in many of the more than 100 countries where USAID operates convened emergency town hall meetings for the thousands of agency staffers and contractors looking for answers. Embassy officials said they had been given no guidance on what to tell staffers, particularly local hires, about their employment status.

A USAID contractor posted in an often violent region of the Middle East said the shutdown had placed the contractor and the contractor's family in danger because they were unable to reach the U.S. government for help if needed.

The contractor woke up one morning earlier this week blocked from access to government email and other systems, and an emergency “panic button” app was wiped off the contractor's smartphone.

“You really do feel cut off from a lifeline,” the contract staffer said, speaking on condition of anonymity because of a Trump administration ban forbidding USAID workers from speaking to people outside their agency.

USAID staffers and families had already faced wrenching decisions as the rumored order loomed, including whether to pull children out of school midyear. Some gave away pet cats and dogs, fearing the administration would not give workers time to complete the paperwork to bring the animals with them.

Despite the administration's assurances that the U.S. government would bring the agency's workers safely home as ordered within 30 days, some feared being stranded and left to make their own way back.

Most agency spending has been ordered frozen, and most workers at the Washington headquarters have been taken off the job, making it unclear how the administration will manage and pay for the sudden relocation of thousands of staffers and their families.

The mass removal of thousands of staffers would doom billions of dollars in projects in some 120 countries, including security assistance for Ukraine and other countries, as well as development work for clean water, job training and education, including for schoolgirls under Taliban rule in Afghanistan.

The online notification to USAID workers and contractors said they would be off the job, effective just before midnight Friday, unless deemed essential. Direct hires of the agency overseas got 30 days to return home, the notice said.

The United States is the world's largest humanitarian donor by far. It spends less than 1% of its budget on foreign assistance, a smaller share of its budget than some countries.

Hundreds of millions of dollars of food and medication already delivered by U.S. companies are sitting in ports because of the shutdown.

Health programs like those credited with helping end polio and smallpox epidemics and an acclaimed HIV/AIDS program that saved more than 20 million lives in Africa have stopped. So have programs for monitoring and deploying rapid-response teams for contagious diseases such as Ebola.

South African Health Minister Aaron Motsoaledi told Parliament on Wednesday that officials scrambled to meet with U.S. Embassy staff for information after receiving no warning the Trump administration would freeze crucial funding for the world's biggest national HIV/AIDS program.

South Africa has the world's highest number of people living with HIV, at around 8 million, and the United States funds around 17 per cent of its USD 2.3 billion-a-year program through the President's Emergency Plan for AIDS Relief, or PEPFAR. The health minister did not say whether U.S. exemptions for lifesaving care affect that work.

Democrats and others say the USAID is enshrined in legislation as an independent agency and cannot be shut down without congressional approval. Supporters of USAID from both political parties say its work overseas is essential to countering the influence of Russia, China and other adversaries and rivals abroad, and to cementing alliances and partnerships.

In Istanbul on Wednesday, Hakan Bilgin sat in the downsized office of his medical-care nonprofit, surrounded by half-unpacked boxes and worried colleagues. Days ago, Doctors of the World Turkey received an unexpected stop-work order from USAID, forcing them to close 12 field hospitals and lay off over 300 staff members in northern Syria.

“As a medical organization providing lifesaving services, you're basically saying, 'Close all the clinics, stop all your doctors, and you're not providing services to women, children and the elderly,”' Bilgin said. HIG HIG

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